Markets: As bond yields cool off, stock buyers step in where angels fear to tread

U.S. stock futures moved higher ahead of the New York open, offering a more positive signal after a sharp, technology-led selloff on Friday. Nasdaq futures were up strongly, suggesting traders viewed last week’s decline as excessive rather than the start of a deeper market break.

The improved tone came as oil prices climbed to $108 a barrel and global equities delivered an uneven performance. Asian markets were mixed, while European markets declined. The combination left investors weighing renewed energy-price pressure against signs of buying interest in U.S. technology stocks.

Buyers return after technology selloff

Chris Beauchamp, chief market analyst at trading platform IG, said conditions were more encouraging than at Friday’s close. He noted that buyers had returned after another decline in technology shares.

Beauchamp also pointed to the S&P 500’s recent strength. The index had reached a record high only two weeks earlier, he said, arguing that the latest weakness appeared more consistent with a rotation within the market than with the beginning of a more serious downturn.

Oil remains a source of pressure

The rise in oil prices added a counterweight to the stronger U.S. futures signal. While buyers stepped back into technology stocks, higher energy costs and falling European markets showed that confidence was not uniform across regions.

For now, the session reflects a market attempting to recover from Friday’s technology-led decline while traders assess whether the selloff was overstated. The direction of trading remained dependent on how investors balanced renewed buying with pressure from elevated oil prices.